Equity

BlackRock Systematic Global Equity High Income Fund

IMPORTANT:
• The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund's income-generating investment strategy may reduce the potential for capital growth and future income of the Fund.
• The Fund is subject to currency risk, emerging market risk, foreign investments restrictions risk, small-cap companies’ volatility and liquidity risks and currency conversion risk including Renminbi denominated Classes.
• Class 5(G) Shares pay dividends gross of expenses. Class 6 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion. Class 8 Shares pay dividends gross of expenses and/or from capital at the Directors’ discretion and include interest rate differentials arising from share class currency hedging. Negative interest rate differentials may decrease the dividends paid. Paying dividends gross of expenses may result in more income being available for distribution; however these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
• The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
• The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
• Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.

Overview

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All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

Performance

Performance

Chart

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Distributions

Ex-Date Distribution
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  2019 2020 2021 2022 2023
Total Return (%) -14.87 14.68

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  1y 3y 5y 10y Incept.
25.34 6.22 - - 5.75
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
16.08 1.35 4.79 8.38 25.34 19.85 - - 18.41
Past performance is not a guide to future performance. Investors may not get back the full amount invested.

Performance is calculated based on the period NAV-to-NAV with dividend reinvested. Performance figures are calculated net of fees.

These figures show by how much the Share Class of the Fund increased or decreased in value during the period being shown. Performance is calculated in the relevant share class currency, including ongoing charges and taxes and excluding subscription and redemption fees, if applicable.

Where no past performance is shown there was insufficient data available in that period to provide performance.

Please refer to the Key Facts section for the inception date of the Fund and the Share Class.

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in SGD, hedged share class benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund
as of 04-Oct-2024
USD 6,424,504,431
Fund Inception
13-Oct-2006
Fund Base Currency
USD
Benchmark
-
Initial Charge
5.00%
ISIN
LU2381873202
Performance Fee
0.00%
Domicile
Luxembourg
Management Company
BlackRock (Luxembourg) S.A.
Dealing Settlement
Trade date + 3 days
Bloomberg Ticker
BGEHIDH
SFC-authorised ESG fund
No
Share Class Inception Date
22-Sept-2021
Share Class Currency
SGD
Asset Class
Equity
SFDR Classification
Other
Management Fee
0.60%
Management Fee (incl Distribution Fee, if any)
0.60%
Use of Income
Distributing
Regulatory Structure
UCITS
Morningstar Category
-
Dealing Frequency
Daily, forward pricing basis
SEDOL
BMDHVC0
For Fee details, please refer to the Fund Prospectus.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30-Sept-2024
316
Standard Deviation (3y)
as of 30-Sept-2024
12.50%
P/E Ratio
as of 30-Sept-2024
19.80
12M Trailing Distribution
as of 30-Sept-2024
7.01%
3y Beta
as of -
-
P/B Ratio
as of 30-Sept-2024
2.97

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.

The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of 21-Sept-2024
A
MSCI ESG Quality Score (0-10)
as of 21-Sept-2024
6.86
Fund Lipper Global Classification
as of 21-Sept-2024
Equity Global Income
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21-Sept-2024
68.14
MSCI ESG % Coverage
as of 21-Sept-2024
97.37
MSCI ESG Quality Score - Peer Percentile
as of 21-Sept-2024
9.09
Funds in Peer Group
as of 21-Sept-2024
528
MSCI Weighted Average Carbon Intensity % Coverage
as of 21-Sept-2024
91.84
All data is from MSCI ESG Fund Ratings as of 21-Sept-2024, based on holdings as of 30-Apr-2024. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of 30-Sept-2024
0.00%
MSCI - Nuclear Weapons
as of 30-Sept-2024
0.00%
MSCI - Civilian Firearms
as of 30-Sept-2024
0.03%
MSCI - Tobacco
as of 30-Sept-2024
2.67%
MSCI - UN Global Compact Violators
as of 30-Sept-2024
0.09%
MSCI - Thermal Coal
as of 30-Sept-2024
1.89%
MSCI - Oil Sands
as of 30-Sept-2024
0.09%

Business Involvement Coverage
as of 30-Sept-2024
96.28%
Percentage of Fund not covered
as of 30-Sept-2024
3.38%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 1.93% and for Oil Sands 1.29%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager may include ESG considerations in the research and decision phases of the investment process. Funds with ESG-related objectives may also include ESG considerations in the portfolio construction phase of the investment process. The research phase may include relevant, internal ESG research used to assess certain characteristics, including, but not limited to, economic and environmental transition, market structure, superior growth, management quality, and risk characteristics associated with environmental, social, and governance matters. ESG insights may be combined with other internal research views to inform active portfolio weighting versus a reference benchmark (or weighting implemented to achieve an absolute return outcome, if applicable). The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate metrics, and other factors.

Ratings

Morningstar, Inc. All Rights Reserved.

Holdings

Holdings

as of 30-Sept-2024
Name Weight (%)
AMAZON.COM INC 3.55
MICROSOFT CORPORATION 3.43
APPLE INC 3.39
NVIDIA CORPORATION 3.15
WALMART INC 2.21
Name Weight (%)
ALTRIA GROUP INC 2.13
BHP GROUP LTD 1.89
PROCTER & GAMBLE CO 1.86
AUTOMATIC DATA PROCESSING INC 1.65
MEDTRONIC PLC 1.62
The Fund is actively managed and its composition will vary. Holdings shown are for illustrative purposes only and should not be deemed as a recommendation to buy or sell the securities listed. Fund details, holdings and characteristics are as of the date noted and subject to change.
Holdings subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 30-Sept-2024

% of Weight

Type Fund Benchmark Net
as of 30-Sept-2024

% of Weight

Type Fund Benchmark Net
Sorry, markets/regions are not available at this time.
Allocations are subject to change. Source: BlackRock
Sorry, market cap data is not available at this time.

Pricing & Exchange

Pricing & Exchange

Share Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
D6 Hedged SGD 9.33 0.00 0.00 04-Oct-2024 9.49 7.87 LU2381873202
A8 Hedged AUD 8.44 0.00 0.00 04-Oct-2024 8.57 7.08 LU1116320141
D6 USD 11.61 0.00 0.00 04-Oct-2024 11.81 9.62 LU2490080954
A5G USD 5.43 0.00 0.00 04-Oct-2024 5.53 4.53 LU0265550946
A6 Hedged SGD 9.05 0.00 0.00 04-Oct-2024 9.21 7.70 LU2381873111
A2 USD 21.71 0.00 0.00 04-Oct-2024 21.95 16.93 LU0265550359
A2 Hedged SGD 16.74 0.00 0.00 04-Oct-2024 16.93 13.28 LU0326426086
A4G USD 10.27 0.00 0.00 04-Oct-2024 10.97 8.61 LU2448342308
A4G HEDGED CHF 9.23 0.00 0.00 04-Oct-2024 9.92 8.04 LU2448342480
A6 Hedged CHF 10.84 0.00 0.00 04-Oct-2024 11.04 9.43 LU2655522931
D5 Hedged GBP 9.87 0.00 0.00 04-Oct-2024 10.04 8.21 LU2325744022
A8 Hedged CAD 8.51 0.00 0.00 04-Oct-2024 8.65 7.13 LU1116320497
A6 USD 8.97 0.00 0.00 04-Oct-2024 9.13 7.50 LU1116320737
C5G USD 5.43 0.00 0.00 04-Oct-2024 5.51 4.53 LU0265551753
A2 Hedged EUR 12.08 0.00 0.00 04-Oct-2024 12.21 9.58 LU0278718100
A6 Hedged GBP 7.88 0.00 0.00 04-Oct-2024 8.01 6.62 LU1116319994
A5G HEDGED EUR 3.54 0.00 0.00 04-Oct-2024 3.60 3.00 LU0278719090
C2 USD 17.34 0.00 0.00 04-Oct-2024 17.54 13.68 LU0265551670
A8 Hedged NZD 8.55 0.00 0.00 04-Oct-2024 8.69 7.17 LU1116319648
A6 Hedged HKD 83.87 0.00 0.00 04-Oct-2024 85.32 70.84 LU1116320901
D4G USD 10.52 0.00 0.00 04-Oct-2024 11.22 8.74 LU2448342563
A6 Hedged JPY 1,070.00 0.00 0.00 04-Oct-2024 1,090.00 940.00 LU2655522857
D2 Hedged EUR 13.43 0.00 0.00 04-Oct-2024 13.58 10.57 LU0827880930
D5G USD 6.11 0.00 0.00 04-Oct-2024 6.22 5.05 LU0265552215
A5G HEDGED CHF 8.87 0.00 0.00 04-Oct-2024 9.04 7.68 LU2315843669
D5 Hedged CHF 9.16 0.00 0.00 04-Oct-2024 9.33 7.86 LU2315843743
A2 Hedged CHF 11.31 0.00 0.00 04-Oct-2024 11.45 9.15 LU2315843826
A6 Hedged EUR 10.93 -0.01 -0.09 04-Oct-2024 11.12 9.30 LU2641782821
D2 USD 24.73 0.00 0.00 04-Oct-2024 25.00 19.12 LU0368268602
A2 Hedged JPY 1,064.00 0.00 0.00 04-Oct-2024 1,077.00 989.00 LU2796517071
A8 Hedged CNH 89.11 0.00 0.00 04-Oct-2024 90.45 74.89 LU1149717743
D4 Hedged CHF 9.45 0.00 0.00 04-Oct-2024 10.15 8.16 LU2448342647
A2 Hedged HKD 126.39 0.00 0.00 04-Oct-2024 127.81 99.64 LU2290526081
D2 Hedged CHF 11.68 0.00 0.00 04-Oct-2024 11.81 9.36 LU2315844048
D5 Hedged EUR 9.49 0.00 0.00 04-Oct-2024 9.66 7.99 LU2315843586
A8 Hedged ZAR 105.81 0.01 0.01 04-Oct-2024 107.73 88.25 LU2250418733
Unless otherwise specified, all information as of the month end.

Portfolio Managers

Portfolio Managers

Robert Fisher
Robert Fisher
Andrew Huzzey
Andrew Huzzey
Muzo Kayacan
Muzo Kayacan

Documents

Documents